SanDisk ($SNDK) Plunges 17%, Down 55% from Record, $200B Erased
SanDisk shares tumbled over 17% in a single session, extending a 5-day slump to 30% and a peak-to-trough decline of 55%, wiping out more than $200 billion in market value since June 22.
SanDisk stock ($SNDK) suffered a sharp sell-off, dropping more than 17% on the day. The decline marks an acceleration of a steep downtrend: the stock is now down roughly 30% over the past five trading sessions.
From its record high, the cumulative loss has reached 55%, representing over $200 billion in market capitalization erased since June 22. The rout underscores intense selling pressure across the name.
No new fundamental catalysts were cited in the post, leaving the move attributed to broader technical deterioration or a continuation of the existing de-rating.
Source: The Kobeissi Letter